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WeMakePrice faces liquidation as court ends rehabilitation proceedings

WeMakePrice is facing liquidation after a Seoul court ended its rehabilitation proceedings due to failure to submit a plan, though its sister company TMON was successfully acquired.

2025.9.9

A person walks in front of e-commerce platform TMON's headquarters in southern Seoul on June 23. [YONHAP]

Court ends rehabilitation proceedings for TMON

A Seoul court ended TMON's rehabilitation proceedings after the platform paid off most of its rehabilitation claims.

2025.8.22

TMON to resume services following Oasis acquisition

Oasis acquires TMON for 11.6 billion won (8.3 million) with plans to normalize operations and retain employees as it seeks turnaround.

2025.6.23

Sellers and customers affected by TMON's liquidity crisis hold a protest demanding refunds and payments in front of the e-commerce platform's headquarters in Gangnam District, southern Seoul, on Aug. 13, 2024. [YONHAP]

Regulator orders TMON, WeMakePrice to rectify handling of refund requests

The FTC has ordered TMON and WeMakePrice to rectify refund failures amid a liquidity crisis, affecting thousands of vendors and customers with significant unpaid amounts.

2025.5.7

Sellers and customers affected by TMON's liquidity crisis hold a protest demanding refunds or payment in front of the e-commerce platform's headquarters in Gangnam District, southern Seoul, on Aug. 13, 2024. [YONHAP]

Fresh food delivery firm Oasis' acquisition of TMON clears court hurdle

Oasis, a fresh food delivery platform, is set to acquire TMON after being named the preferred bidder by the Seoul Bankruptcy Court.

2025.4.14

TMON's headquarters in Gangnam District, southern Seoul [NEWS1]

Grocery platform Oasis starts acquisition of troubled TMON

Oasis, a grocery-selling platform, has started procedures to acquire TMON, still beset by liquidity and legal issues, in a stalking horse bid.

2025.3.5

Bae Sam-hee of the Korea Consumer Agency's (KCA) Consumer Dispute Settlement Commission delivers a briefing on the results of the committee's mediation related to the payout crisis at TMON and WeMakePrice in Songpa District, southern Seoul, on the morning of Dec. 19. [YONHAP]

TMON, WeMakePrice must refund customers, KCA rules

The Korea Consumer Agency ruled that TMON and WeMakePrice must refund more than 8,000 customers nearly 13.5 billion won ($9.3 million) for denied compensation.

2024.12.19

From left, Qoo10 CEO and founder Ku Young-bae, TMON CEO Ryu Gwang-jin and WeMakePrice co-CEO Ryu Hwa-hyeon [NEWS1]

Qoo10, TMON, WeMakePrice CEOs indicted for fraud

Three e-commerce CEOs were indicted for embezzlement and fraud as their companies face a payout crisis, owing $1.3 billion to vendors. They allegedly misled sellers about their dire financial situation.

2024.12.11

Qoo10 CEO and founder Ku Young-bae attends a parliamentary hearing at the National Assembly in western Seoul on July 30. [NEWS1]

Prosecutors grill Qoo10 CEO over involvement in TMON, WeMakePrice payout crisis

Prosecutors summoned Qoo10 CEO and founder Ku Young-bae on Monday to question him over his involvement in the e-commerce platform’s subsidiaries' management, which has led to a seller-payout crisis.

2024.9.30

Protestors hold signs condemning the excessive regulation of the e-commerce industry during a public hearing regarding the payment crisis at TMON and WeMakePrice at the Korea Press Center in Jung District, central Seoul, on Monday. [YONHAP]

Public weighs in on TMON, WeMakePrice crisis at FTC public hearing

A public hearing in Seoul addressed the payment crisis at TMON and WeMakePrice, with participants discussing proposed regulations to better protect vendor funds.

2024.9.23